Cipher Mining Inc. (NASDAQ:CIFR) Shares Purchased by Swiss National Bank

Swiss National Bank increased its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 15.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 452,800 shares of the company’s stock after acquiring an additional 59,500 shares during the period. Swiss National Bank’s holdings in Cipher Mining were worth $2,101,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its holdings in shares of Cipher Mining by 912.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company’s stock worth $28,000 after purchasing an additional 5,432 shares during the period. KBC Group NV purchased a new stake in Cipher Mining in the 4th quarter valued at about $46,000. Apollon Wealth Management LLC acquired a new position in Cipher Mining in the fourth quarter valued at about $49,000. Verition Fund Management LLC boosted its stake in Cipher Mining by 30.7% during the third quarter. Verition Fund Management LLC now owns 13,130 shares of the company’s stock worth $51,000 after buying an additional 3,086 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Cipher Mining during the fourth quarter valued at about $51,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $8.00 price objective on shares of Cipher Mining in a report on Wednesday, February 26th. Rosenblatt Securities initiated coverage on Cipher Mining in a research report on Friday, March 7th. They set a “buy” rating and a $6.50 price target for the company. Needham & Company LLC cut their price objective on Cipher Mining from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Keefe, Bruyette & Woods initiated coverage on Cipher Mining in a report on Wednesday, January 8th. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. lowered shares of Cipher Mining from an “overweight” rating to a “neutral” rating in a research note on Thursday, March 13th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $8.13.

Cipher Mining Stock Down 5.2 %

Shares of NASDAQ:CIFR opened at $2.54 on Friday. Cipher Mining Inc. has a fifty-two week low of $2.52 and a fifty-two week high of $7.99. The firm’s 50 day moving average price is $4.56 and its 200 day moving average price is $4.98. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. The stock has a market cap of $933.78 million, a price-to-earnings ratio of -19.54 and a beta of 2.47.

About Cipher Mining

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.